MARA Holdings Stock Moves Higher On Better-Than-Expected Q2 Earnings

by Adam Eckert Benzinga Editor

Zinger Key Points

MARA Holdings reports second-quarter revenue of $238.5 million, beating analyst estimates of $218.45 million.
The Bitcoin miner reports second-quarter earnings of $1.84 per share, beating analyst estimates of 69 cents per share.
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Bitcoin BTC/USD miner MARA Holdings Inc MARA reported second-quarter financial results after the market close on Tuesday. Here’s a look at the key metrics from the quarter.

Q2 Earnings: MARA Holdings reported second-quarter revenue of $238.5 million, beating analyst estimates of $218.45 million, according to Benzinga Pro. The Bitcoin mining company reported second-quarter earnings of $1.84 per share, beating analyst estimates of 69 cents per share.

Total revenue was up 64% year-over-year. MARA Holdings' energized hash rate increased 82% year-over-year to 57.4 EH/s in the second quarter. The company noted that it remains on track to reach its year-end target of 75 EH/s.

MARA mined 2,358 Bitcoin during the quarter and held a total of 49,951 Bitcoin at quarter's end. The company had $5.4 billion in unrestricted cash, cash equivalents and Bitcoin as of June 30.

“Our vertically integrated mining operations, large BTC treasury, budding international energy partnerships, and early AI infrastructure investments each contribute distinct and measurable value. When viewed through a sum-of-the-parts lens, we believe the market has not fully recognized the intrinsic worth and long-term potential of our business,” the company said in a letter to shareholders.

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MARA said it will host its inaugural investor meeting in the fall. Management will further discuss the quarter on Tuesday on an earnings call with investors and analysts at 5 p.m. ET.

MARA Price Action: MARA Holdings shares were up 3.56% in Tuesday’s after-hours session, trading at $17.21 at the time of publication, according to data from Benzinga Pro.

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